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PBS
Jan 14, 2013 6:30pm PST
. president obama tells congress we're not a deadbeat nation, and they need to raise the debt ceiling now, so we can pay our bills on time. >> tom: i'm tom hudson. a sour day for apple investors. the stock tumbles to 11 month lows on new worries about waning demand for the iphone 5. >> susie: but a banner day for g.m., the cadillac ats takes car of the year at the big auto show in detroit, and its new corvette stingray wows gear heads around the globe. >> tom: that and more tonight on "n.b.r."! >> susie: the next big fight in washington has begun. president obama today called on republican lawmakers to authorize an increase in the nations debt limit, saying that messing with it could potentially have catastrophic results for many americans and the overall economy. he warned markets would go haywire if congress does not act, interest rates would rise, and checks to social security beneficiaries would stop. and he said even thinking about the u.s. not paying its bills is irresponsible and, "absurd". darren gersh reports. >> reporter: in his first news conference of the new year the pres
CSPAN
Jan 15, 2013 7:00am EST
we should raise the debt ceiling. we should have across-the-board cuts. we spend too much money. people don't deserve a free food, phones, medical care. somebody has to pay for everything. they say i need money for this and that. the funny thing is the people in the state ultimately owe the money. we are the guarantors. we are the ones that'll all the money. we will have to stop spending. host: you agree with sequestration, something that could happen in two months, the automatic spending cuts across the board? caller: have you ever gone to the bank and they told you no? host: so you agree with it? caller: it's going to be hard, but we have too many people so accustomed to receiving a check from the government, the day is coming. we can either do it a little at a time or have it on us all at once. we have through stops spending -- we have to stop spending. if we owe a debt, yes we should pay. but just because we told somebody if you want a free phone, we will give your free phone. we don't know that person a free phone nec's market. and we don't owe all these other countries foreign aid. host: so we should pay our debts first, if we're not going to raise the debt ceiling? and then some peopl
CNBC
Jan 14, 2013 7:00pm EST
against the debt ceiling in the past. >> well, we clearly need a compromise. we need to reduce spending, we need to impose tough statutory budget controls. need a real credit card, that's constitutional limit. we're the only country on earth that has a debt ceiling limit. so let's get real and try to do something that's more -- that's more appropriate and more effective than we have had in the past. ultimately we need to build a bridge to a grand bargain later this year which includes social insurance reforms and comprehensive tax reform. that will make it simpler, fairer, more competitive and generate more revenues. >> you know, on that taxes, i am just beside myself with the desire to have business tax cuts. large and small business tax cuts. i think we should have done this four years ago. >> i definitely think that we have to streamline, simplify the corporate tax code. we need to move to territorial and take the top rate down to 25%. permanent r&d tax credit. we need to give a deduction to dividends districted. let's lower the top rates to 25%, which makes it simpler, much more com
FOX Business
Jan 15, 2013 6:00pm EST
, if they want to put the responsibility on me to raise the debt ceiling and happily take it, but if they want to keep this responsibility than they need to go ahead and get it done. gerri: if they don't can the president by passed the congress using the 14th amendment? for a corrupted by former federal prosecutor joins us. read this so that people can get a sense of what it says. the validity of the public debt of the united states authorized by law including pensions and bounties for services in suppressing insurrection or rebellion should not be questioned. it sounds pretty dramatic. >> the 14th amendment, we all remember from high-school kamal is a reconstruction of manila in 1868 after the civil war to plan the most abortive things that it did was granted full citizenship to african-americans, thus overruling the dread scott case. gerri: but that's the word talking about here. >> put that aside. section four was enacted having to do with the debt stemming of the civil war. gerri: which were headed for the south. >> because france and england loaned money to the confederacy. end so that was it. this goes to the core of constitutional
PBS
Jan 15, 2013 12:00am PST
uncompromising mood as far as negotiating with republicans directly about whether the debt ceiling will or will not be raised. the president's position is a congressional obligation f congress wants to hand that authority over to him he will be glad to take it but congress needs to send him a debt ceiling increase. remember the debt sealing acording to the treasury department is due to run out to laps and we would approach a default position sometime in the middle of february, just next month. there is not a lot of time. now republicans have said and i asked the president about this you know, historically the debt ceiling because it oftentimes difficult to get votes in congress to pass a debt ceiling, has often been accompanied by fiscal or deficit reduction measures. back in the '80s, the '90s and even in president's presidency himself he has signed four laws raising debt ceiling. three were tied to some sort of fiscal management, legislation itself. but the president now says i'm tired of negotiating all those things, raised the debt ceiling and then i will get on with other conversations with you about dealing with the sequester, the across-the-board spending cuts and other budget related issues. but not until you take care of the debt ceiling and get that of
PBS
Jan 15, 2013 1:00am PST
raise the debt ceiling and he once again said there was no way he'd negotiate with congress about something it should do anyway. >> they will not collect a ransom in exchange for not crashing the american economy. the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. >> reporter: republicans called the president hypocritical for saying he will not negotiate over the debt limit while blasting republicans for refusing to negotiate. and they fired back that the debate over the debt ceiling was the perfect time to consider legislation to cut spending. at the same time, only a handful of republicans have actually said they'd let the united states default on its bills. >> the president claims this, but republicans have always raised the debt ceiling. we've never seen the debt limit fail to be raised. all they have said is we want to apply the same criteria that the president himself applied when he was a senator and say we don't want to give the president a blank check. we would lik
FOX News
Jan 15, 2013 12:00pm PST
: portman acknowledges the need to raise the debt ceiling, but he supports the context of getting a handle on the spenning. >> shepard: this is disaster relief for victims of super storm sand gee right. we have had plenty of lawmakers saying we need to get a handle on government spending, but not when people are waiting for major disaster relief money. a key new jersey democrat is saying people from new york, new jersey and connecticut pay their fair share. three state, 16% of the taxes. you ask the question: who suffered because of super storm sandy? certainly, our neighbors in new york and new jersey and connecticut suffered the most. but all americans will suffer if this economic engine is not rebuilt. >> reporter: a number of lawmakers have made the point, it is all about the northeast. but tomorrow, it could be a quake in california. it could be tornados in the midwest or a hurricane in florida. so they're suggesting you may want to be careful taking a hard line on disaster relief money, shep. >> shepard: mike emanuel, thank you. veterans are having a hard time getting jobs in many cases. now, a job for every veteran returning who wants one. that, from wal-mart. its u.s. president says they plan to hire more than 100,000 vetera
FOX
Jan 15, 2013 6:00am PST
pay its bills if congress does not raise the debt ceiling. president barack obama said congress needs to pay its bills but republicans want any bills paid to be tied to spending cuts. >> they have two choices, they can act responsibly and pay america's bills or they can act irresponsibly and put america through another economic crisis. >>> and the gop is prepared for a fight saying quote, the consequences of failing to increase the debt ceiling are real, but so too are allowing our spending problem to go unresolved. >>> convenience stores will be busy today. people want to hit the new jackpot drawing, an estimated $62 million. on friday, somebody in orange veil matched all five mumps minus the mug did he -- five numbers minute news the meganumber giving them a $250,000 pay day. >>> it is almost every wear and as a -- everywhere and as a matter of fact looking at highway 4 traffic is slowing down from bay point to concord. traffic is mostly slow and the only good news is we have not had any major crashes but we have had our share of slow traffic on this stretch. traffic is backed up for a
PBS
Jan 14, 2013 6:00pm PST
some democrats that he raised the debt ceiling on his own authority. republicans were quick to answer the chief executive's criticism. senate minority leader mitch mcconnell said in a statement the president and his allies need to get serious about spending and the debt limit debate is the perfect time for it. and speaker of the house john boehner said the consequences of failing to increase the debt ceiling are real but so too are the consequences of allowing our spending problem to go unresolved. the spending and debt issues took most of the president's attention today, but he also turned to the issue of gun violence. after the shootings at an elementary school in newtown connecticut, he appointed vice president biden to come up with recommendations for action. the vice president met with lawmakers today and with groups on both sides of the issue last week. plans to submit proposals by tomorrow. president obama would not discuss specifics today. instead he said this. >> i'm confident that there are some steps that we can take that don't require legislation and that are within my authority as president. and where you get a step that has the opportunity to reduce the possibility of gun violence, then i want to
ABC
Jan 14, 2013 4:00pm PST
. he'll say what he needs to do before the debt ceiling comes up for a vote. >> clearly a lot of confusion about that. cuba's new law easing travel restrictions began today pechl are taking advantage of it. >> they stood in long lines outside travel agencies and the u.s. interest section.g1u in havana. animalla lifts do not expect a mass exodus but they have questions in recent weeks. >> bee jirngs china facing an air quality emergency. look at the pictures. 62q calling pollution there hazardous saying this is the worst it's been in china. residents saygjhr there is a burning smell in the air smrks highways are closed and flights, cancelled. pollution blamed on the rapid inr industrial growth. and a rise in car ownership. just to give you an idea of how bad it is, the air pollution indmechl beijing is at 755. now, anything over a scale of 300 is considered an emergency. by comparison the scale in the united states doesn't go over 500. >> royal baby news, duke and duchess's baby expected in ju. a spokesman for the palace says her condition is continuing to improve. following her s
CSPAN
Jan 15, 2013 5:00pm EST
aisle a blank check. any discussion of raising a debt ceiling must also include an examination of serious reforms needed to indictment and discretionary spending. when we look at this, on january 2, 2013, president obama stated that we cannot continue to cut our way to prosperity. well, mr. president, on the contrary. we cannot tax and spend our way to prosperity either. i think tonight we're starting what i hope will become a regular occurrence. as we look at it, it's what i believe we have to do. and i believe it's about telling our story. and telling why conservative principles mat around how conservative principles, when we explain how we can get debt off their backs, spending under control, then it's freedom for their kids to have a better future. so they can go to college, so they can buy that or start that new business, to employ other people. i believe america's greatest gift was found in the free -- founding the free enterprise system and that's what we can encourage by getting our own fiscal house in order here tonight. this is a time for us to come together. and i'm pleased to stand with you and
FOX News
Jan 15, 2013 6:00am PST
increase in the debt ceiling? we believe that there needs to be cuts and these are what they would be? are you going to do that? >> martha, we'll get together this weekend and we'll crunch all that out. i don't want to presume there is consensus there i might adhere to. i want to do that with my colleagues but we need to lay down the broad bright line, for me, it is this. when does this budget balance? we must have cuts to go along with any debt increase. they must be substantial. there must be a line. martha: you need to sell that idea to the american people with specifics and with a plan and say we're the house gop. here's what we would do. here are the programs we would cut in order to reach parity over the next five years. we may never get this but we want the american people to understand what we stand for. is that something we can expect? >> well, martha, i take your point we need to sell it with specifics but you also understand as soon as a specific is put out there, it is attacked by the spending piranhas on the other side. we have to first nail down the concept. i would a
MSNBC
Jan 14, 2013 7:00pm PST
. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they have already racked up. but to even entertain the idea of this happening, of the united states of america not paying its bills is irresponsible. it is absurd. the full faith and credit of the united states of america is not a bargaining chip. and they had better choose quickly because time is running short. >> house republicans continued to threaten to use the debt ceiling as a bargaining chip. house republican conference chairwoman kathy rogers told "political" i think it is possible we would shut down the government to make sure that president obama understands that we're serious. well, i guess that would do it. we always talk about whether or not we're going to kick the can down the road. i think the mood is that we have come to the end of the road. what road? and republican c
Current
Jan 15, 2013 3:00am PST
ceiling deal tied to the fiscal cliff negotiation. that didn't happen. the republicans gave up that negotiation. but they're hoping that the debt ceiling raising will give them the leverage that they need to get what they want when it comes to spending cuts. the president hopes though that he can by delegitimizing this idea of having the debt ceiling as a debate, have them have no leverage going into the deficit-cutting discussion or at least a lot less leverage. >> bill: the other big topic, the only other topic actually raised at the news conference yesterday other than whether or not you elect a party, president likes to have a party. was the issue of guns where the president was not specific because he hasn't seen -- or wasn't ready to list all of the recommendations that may have come out of the biden task force. but the president did express and repeat his resolve to do something about this issue of gun violence. no doubt about that, was there? >> no. while he put off getting into the details a little bit, he was pretty specific in what he was looking for. the assault weapons ban. and the prohibition on high-capacity magazines. those are two things that we're expecting will be part
CNBC
Jan 15, 2013 6:00am EST
. we'll have more on the debt ceiling in the next hour when we speak to senator rob portman. you guys, wilbur, you also said we have -- we are fully ready with inflation, we have all the tools we need to exit. >> well, i caution a little bit. historically the fed has always bought short-term paper and it's easy then to raise the interest rates. again you let the paper roll off, you sell it. now they've been buying long-term paper. rates start to go up, fed could get creamed in terms of their own balance sheet, because of the losses. if rates went to their ten-year average, the fed portfolio would be down 23%. they don't have 23% equity. >> and richard, i saw bill miller came back with a vengeance this year betting on housing, and financials. >> yes. >> and huge returns. i mean 40% i'm thinking. >> so did you -- you watched that happen in your business? >> yes, yes. and you know, we're seeing the housing business stabilizing, you know, part of that is we've got a little better job creation in the economy and we're kind of working on ways to work slowly and credit markets are a little better for people that have credit, so i mean, all of those things are happening. but, i would say they
MSNBC
Jan 14, 2013 5:00pm PST
mitch mcconnell continued to link the debt ceiling increase to spending. in a statement he said the president and his allies need to get serious about spending and the debt limit debate is the perfect time for it. house speaker john boehner also ignored his obligation to pay the nation's bills and also complained about spending. the american people do not support raising the debt ceiling without reducing government spending at the same time. they speak so confident, don't they? it's almost as if they forgot all about the spending cuts the president already gave them over a year ago. well, let's try to help them figure it out a little bit with a little visual and audio assistance. >> over the past two years i've signed into law about $1.4 trillion in spending cuts. two weeks ago, i signed into law more than $600 billion into new revenue, by making sure the wealthiest americans begin to pay their fair share. when you add the money that will save in interest payments on the debt, all together that adds up to a total of about $2.5 trillion in deficit reduction over the past two years. not counting the $400 billion alre
CNN
Jan 15, 2013 8:00am PST
>>> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. and water not a dead beat nation. >> sounds simple, doesn't it? but like so many other crises and standoffs from the past two years, raising the nation's debt ceiling is a zero sum props. somebody wins only if somebody else loses. we're speaking of of course politically here, not financially. economically it's hard to find any winners if the treasury can't close the budget gap. runs about $100 million every month. my next guest worries about it a lot. signor partner and managing director of the boston consulting group and author and columnist. so this becomes tricky for people tound, but essentially the debt ceiling, is it the kind of tool that anybody should be used in order to force people to be more austere in the way they spend in the future? >> well, it's a way to do it, but it's a very dangerous way to do it because we start playing with everybody in our economy eye lives. so if we hit the debt ceiling and we don't have a bill that changes it, when we hit somewher
CNBC
Jan 15, 2013 9:00am EST
menlo park with the latest. then, jean sperling is here with the debt ceiling debate. what that means for the economy as the house prepares to vote on a package for hurricane sandy victims. one republican congressman says we need to consider big budget cuts to pay for that. congressm congressman mick mulvanel will tell us about his big plans. first, we'll talk about facebook. julia boorstin is live with the latest on that. good morning. >> good mormg. i expect 120 reporters and bloggers to be here, to be facebook's big mystery announcement. the social network has done a great job. face book hasn't leaked a thing. i expect mark zuckerberg to unveil a new product, something to improve users''s experience rather than a back-end change. consider the priority that zuckerberg and sandberg are making, i don't think the announcement will be a facebook phone. whatever it is, you can bet there will be obvious implications for facebook's bottom lines. what are the options? a new app store, a new gaming platform to compete with zynga and lots of talk about facebook's work on a social search engine. facebook stock has been bolstered by a slew of analyst reports. deutsch bank upgrading from hold to buy. they are both bullish o
MSNBC
Jan 15, 2013 8:00am PST
yet on his news conference said raising the debt ceiling will not raise our debt ceiling. all we've raised the debt, we have to may more interest. that in it/will increase the spending. we have a spending problem in this country. that's what we need to address. >> what is your biggest bone of content with john boehner? you've been very public about the fact that you don't think his leadership is something you wanted over this new congress, you didn't vote for him to be the speaker. what is your main problem with him? >> i have no personal problems. i keep hearing that. he himself said i carrying no grudges. we've talked several times. the point is to let him know with le stand up to leadership and hold him account annual. i think that's important to know. that really is on both sides of the aisle. if you go back there were people that challenged the leadership, too. i think that's a good thing. you have new members of congress willing to stand up and saying let's rethink this. let's put america first, not necessarily party politics. i fired the first volley that you would make boehner's life a little more hellish, so now you're saying he doesn't hold any grudges toward you and is looking to have you basically fall in line. so has he
CSPAN
Jan 15, 2013 5:00pm EST
terms of the public to entertain part of this now about same as take the debt ceiling of the table for the next four years of bitter debate entitlement reform package. what do you need to see for young colleagues on the democratic side to say a right to engage in the conversations that the other side is insisting on with entitlement. >> first of all, we have to take the debt ceiling off the table for a considerable time. secondly, regarding entitlement reform, let's take medicare. there have been two changes in terms of medicare and its future. number one is that the rate of health care growth has been diminished in the rate of medicare cost increase. but it's also been diminished. that's the first consequence of the first events of the last three years. secondly, we have health care reform, which i think has accelerated to two munition and help your cost increase. what i think we need to do in terms of medicare is for both parties in both houses and the white house to sit down and have a serious discussion about how we continue to get ahold of medicare and other health care costs. we really need to do that. the social security, we have to have the same kind of discuss
MSNBC
Jan 15, 2013 11:00am PST
regarding the debt ceiling and the inevitable issue that is are faced by those who need to make the decisions for us. >> yeah. we have got this triple deadline coming up. and nobody -- everybody says they don't want to do it at the last minute the way we did with the fiscal cliff but nobody seems to be talking about it yet. you don't have negotiations started. granted we are in a bit of a holding pattern with the inauguration coming up and maybe things start to happen after that but nobody seems to be jumping in proactively for a solution to these issues that are coming up and that's because they're tough decisions. they're hard. and nobody has something that is universally palatable ready to off offer. >> with that said, will we see a separation of spending cuts the republicans say they want to desperately and separate it from the debt ceiling? as the president said, you can't run out on a meal you have eaten. this is not new debt. this is bills we have acquired. the government and this country must be obligated to do the same. >> well, the president would like to see these negotia
CSPAN
Jan 14, 2013 11:00pm EST
do and needs to do and authorize an increase in the debt ceiling soon compare our debts and bills . that is the right way to do it. and the i think that is what will eventually happen, but i don't think that going off in another direction would really be all that talk -- all that helpful. >> hello, chairman bernanke. i am a second year in pp at the force cool and studying for a graduate certificate in science and technology. second question from the audience, does the debt ceiling of a practical purpose? could it be eliminated without much consequence? >> does what have? >> the debt ceiling. >> it does not really have. it has symbolic value i guess, but no other country, i believe, maybe one or two other, but no other countries in the world have this particular institution . to so everyone understands what is, the congress appropriates $100, tells the government to spend $100 on whenever and then it raises $80 in revenue through its tax code. now, the arithmetic here sort of says, you have to borrow $20. shephard -- the congress has to give a third rule. if the congress is approvi
CSPAN
Jan 15, 2013 6:00am EST
not need to do it in the context of the debt ceiling. >> do you believe that the fed could prevent future asset uploads? -- doubles -- bubbles? what tools do have to do that? >> it is difficult to anticipate. we can do some things. first of all, we can try to strengthen our financial system. by increasing the amount of capital and liquidity the banks hold. by improving supervision of those bank. by making sure that every important financial institution is supervised by somebody. there were some important ones during the crisis that had no effective supervision. you make the system stronger. if a bubble or some problem emerges, the system will be better able to meet -- be more resilient. youth and try to identify bubbles. there has been a lot of research on that. we have created a council called the financial stability oversight council. it is made up of 10 regulators and chaired by the secretary of the treasury. one of whose responsibilities is to monitor the financial system, as the fed also does, and identify problems that emerge. you are not going to identify every possible prob
CSPAN
Jan 15, 2013 1:00am EST
debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. if congressional republicans refuse to pay america's bills on time, social security checks and veterans' benefits will be delayed. we might not be able to pay our troops, or honor our contracts with small business owners. food inspectors, air traffic controllers, specialists who track down loose nuclear material wouldn't get their paychecks. investors around the world will ask if the united states of america is, in fact, a safe bet. markets could go haywire. interest rates would spike for anybody who borrows money -- every homeowner with a mortgage, every student with a college loan, every small business owner who wants to grow and hire. it would be a self-inflicted wound on the economy. it would slow down our growth, might tip us into recession, and ironica
FOX News
Jan 15, 2013 2:00am PST
says the consequences of failing to increase the debt ceiling are real so, too, are the consequences of allowing our spending problem to go unresolved. republican senator mike lee of ue ah taw says the government needs put into place structural spending reform because simple spending cuts will no longer do the job. we are going to face another credit downgrade i fear because we will face it again without think being the way paushiwashi spends money. >> he is willing to work with republicans to reign in spending. he wants to conduct those talks separately from the gop to raise the debt ceiling. he hopes by doing so he can avert a first ever national default. >> kelly wright live in washington. thank you. >>> it is time to take a look at who is talking. another big battle on capitol hill of course. the gun control debate. joe biden announced his task force regulations. we are hearing from one congressman who has a personal connection to this. >> despite the mash shoot something representative barber says he still supports the second mainedment. >> i feel very strongly that the second amendment should be protected and the supreme court has ruled and there's no question it is a right that all americans have
CNN
Jan 14, 2013 8:00pm PST
debt ceiling. >> if the republicans in congress have made a decision that they want to shut down the government in order to get their way, then they have a vote in the house of representatives to do that. >> the problem, that's what they say they're going to do. great to see you birthday. david, the president himself saying, i acknowledge it, a government shut-down is a possibility. cathy mcmorris rogers of washington state told politico, i think it's possible we would shut down the government. so here we are, we're getting to a problem. treasury secretary tim geithner said mid-february/march is as far as he can go. who blinks first? >> this is like one of the situations in the monkey cage at the zoo where the monkeys bang their chests and look as powerful as possible. the president is escalating this situation. no 14th amendment option. do it my way or we plunge the public credit of the united states into bankruptcy. and the republicans are responding equivalently by saying to the president, we're not scared. we're not scared of you. it's very clear at the republican leadership does
MSNBC
Jan 15, 2013 6:00am PST
. you have the debt ceiling issue. all of those are in the mix right now because they are all coming to a head at the same time. we are going to need to deal with all of them. can't we be responsible? can't we work collaboratively on this? if we can -- hearing from the white house that, you know, you go figure it out. it is not my problem. i didn't have anything to do with this. that's not the way to go. >> let me ask you about your job as the head of the republican campaign committee. will you support all incumbent house republicans no matter what under all circumstances? or -- is your job to eliminate primary opposition? >> you know, i love how you -- you know, we try to talk in absolutes here. we are a member of organization that supports republicans and republican members of the house. here's when we do and we go out and recruit. i think, you know the voters want to check and balance in washington. we are going to offer a positive alternative. great candidates. we now -- second biggest majority since world war ii coming off the biggest majority. we intend to build on that. and we are a member-driven organization. you bet we will w
CNBC
Jan 15, 2013 3:00pm EST
world of hurt if lawmakers don't make a deal on spending cuts. ahead of the debt ceiling debate alan simpson will join me. we'll get his take on that and a lot more. stay with us. at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the right attorney to help guide you along, answer any questions and offer advice. with an "a" rating from the better business bureau legalzoom helps you get personalized and affordable legal protection. in most states, a legal plan attorney is available with every personalized document to answer any questions. get started at legalzoom.com today. and now you're protected. ♪ [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 lexus ls f sport. an entirely new pursuit. . >>> welcome back. okay. some painful news for drug-maker johnson & johnson. cvs says it will not carry its tylenol products in its stores after years of disruption. pfizer is the news of breakup speculation. if you're shopping for a drug stock, which is the better buy, j&j or pfizer? talking numbers on both sides. te
CNN
Jan 15, 2013 1:00pm PST
the debt ceiling and two-thirds of the republican caucuses voted for this. they want to send a message that they really, really needed it, that they want to cut spending for every doll they put out there, even on disaster relief, which historically has not been required to have an offset. >> and definitely has ruffled feathers in the last congress. all of our viewers i'm sure will rememb how new jersey governor chris christie didn't hold back in showing how angry he was at congress, the house, and specifically speaker boehner when the vote was delayed last time. listen to him. this is on january 2nd. >> new jersey deserves better than the due police tea we saw displayed last night. america deserves better than just another example of a government that has forgotten who is the to serve and why. 66 days and counting. shame on you. shame on congress. >> when you listen to that and when you listen to the house floor and sound bites before , s what you're saying why speaker boehner did what he did in the very beginning of january? >> reporter: absolutely. he took the hit. he pulled that bill knowing that he was going to get
CSPAN
Jan 15, 2013 12:00pm EST
-- [inaudible] more or less it's probably a smaller debt ceiling increase. and they also need to decide what to do about two other fiscal cliffs that are looming, the $85 billion in sequester cuts that had been put off for two months for the fiscal cliff deal and also the continuing resolution, government funding runs out march 27th. and if a bill's not passed, the government will shut down. now, some thought that republicans would be more willing to use that weapon to try to force cuts because a government shutdown is several orders of latitude less serious than a debt ceiling default. but, you know, behind the scenes appropriators have been working out their differences, and they could act quickly if leadership decided they didn't want to use that weapon to sort of pass the bill. >> l and finally, eric wasson, you report that the white house has sold paul ryan, the house budget chairman, that its budget will be late, missing the deadline. why? >> guest: that's right. already we're supposed to be starting the 2014 spending cycle, and the beginning of that is the submission of the president'
FOX
Jan 15, 2013 7:00am PST
congress should raise the debt ceiling. that was the message, the federal reserve chairman delivered -- delivered at the university of michigan. he said congress needs to act quickly. they want to avoid a credit rating change and that could affect the economy. >>> the cold weather definitely having an impact on the central valley which grows about 8% of the country's fruits and vegetables. one family farm is in newcastle, california. that's about off 80 on the way to tahoe. farming is a tricky business. now, this cold weather is actually good news for their crop of mandarins but only to a point. >> whatever doesn't kill them makes them sweeter. so if you can get the mandarins as close to frozen as you can but not frozen, the trees push sugar into the fruit and it increases the quality of the fruit. >> analysts say orange and lemons are most vulnerable. that means higher prices. strawberries, avocados, affected as well. for avocado, one farmer says if the trees get damaged production is down for the whole year. in the next hour of "mornings on 2," steve mentioned arizona being particularly cold. that will affect a very important part of the produce aisl
CNN
Jan 15, 2013 6:00am PST
froing that has led to a lot of the big fights on the fiscal cliff and debt ceiling that conservatives who are in the majority want to cut federal spending and they'll do it however they need to. >> understood. dana bash, thanks so much. >>> practice makes perfect even on the steps of the u.s. capitol. rehearsals have been under way complete with stand-ins for the first family. president obama will take his oath twice. on sunday, january 20th, he'll use first lady michelle obama's family bible. and on monday during the public ceremony, he'll use two other bibles. one of them belonged to president lincoln. it's the same one will be used in 2009 during the inauguration. the second bible belongs to civil rights leader dr. martin luther king jr. king's son joins me now from washington. we're so glad you're here. >> thank you. i'm honored to be here today. >> you wrote an op-ed, even your description of the bible is touching. you say it's faded and some of the pages are torn. tell us how your father, dr. king, used that bible. >> well, number one, we found that when he was pastoring or preparing a sermon, his first sermon at the dexter avenue memorial baptist church, that he actua
MSNBC
Jan 15, 2013 9:00am PST
ceiling and get on without tanking the u.s. economy, joy. >> yeah, absolutely. i think that is the most important thing. i'm with ryan on this. you always have to provide political cover. the republicans need to be able to run against barack obama as the tax and spend liberal who keeps plunging us into debt. this would allow them to do that and still not blow up the economy. i mean, the only thing here that we know for certain is that they are going to raise the debt limit. they're going to do it. they know it. we know it. it's just a matter of how messy it's going to be before that. the way that you know republicans many my opinion are not serious, where is their list of things? if spending is such a horrible thing and we have a spending problem, not a debt problem, show us your list. what is it you would like to cut? let's see it. the last time they showed it to us, it was the ryan plan to destroy medicare and turn it into a voucher, and then they ran away from that during the presidential campaign when they should have been showing it off. if they're so into cutting the deficit and they think spend issing the problem, show it off. let's see what you got. they don't want to do it. >> what i
FOX Business
Jan 15, 2013 5:00pm EST
to your head that is what is happening with the debt ceiling. >> we didn't get to it before then. melissa: great discussion. next on "money", a stunning number of americans are using their 401(k)s to pay for every day expenses. a top financial planner said you couldn't make a worse decision. he is here to explain. we also asked for some other options if you're in this situation. >>> plus, demand for gas is falling to lows not seen in nearly a decade. many are giving credit to stiff fuel efficiency mandates. i'm not sure i'm buying that. that is coming up though. do you ever have too much money? ♪ . suddenly, she does something unexpected and you see the woman you fell in love with. she's everything to you. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical
CSPAN
Jan 14, 2013 8:30pm EST
forward. >> president obama nor congress and the debt ceiling? >> i would hope that it wouldn't come to that. but if it has to, then it must. you know, we can't let extremist put us into default and play chicken with the full faith and credit of the united states of america. that's what they are. people talk about this, and i have been watching the last two days -- when i hear that people say let's just go into the fall, i say this person is from another planet. this person is not from this planet are you the notion that we would do that boggles the mind and good common sense of the vast majority of americans. >> what is your perspective on america's melting pot being better reflected in small towns were rural america? what would civic leaders learn from that experience of small-town mayors. >> well, i think we are enriched. i know that i am. my kids have grown up and i tell people, you know, my kids have been in the homes of persians and iranians and armenians and koreans and filipinos and mexicans and italians and greeks and jews and muslims and we are enriched. when we experi
FOX News
Jan 15, 2013 3:00am PST
senator in 2008 he said the opposite when president bush wanted to raise the debt ceiling. do you think his message about paying the bill resonates with the american public? do you think they delve into the details like you do and understand exactly what's going on? >> it is a compelling message saying we need to pay the bills we've racked up. it misses the point. think about it in terms of a credit card. if you have a son or daughter who exceeds the limits, what do you do? first, probably rip the card. second, say we need to change our spending habits. this is what the president won't do. he said yesterday we have not connected the debt limit with deficit reduction. nothing could be further from the truth. in the past three decades the only thing that has worked in washington to get the spending under control is to tie debt spending to a limit. gramm-rudman. it is a tool that can and should be used. >>gretchen: he seems to think it has nothing to do with spending. what would be your counter to that? >> it has everything to do with spending. again, it's been the most effective too
SFGTV
Jan 15, 2013 9:30am PST
, debt ceiling, in light of what is really going on here in the city and county of san francisco we need to involve the constituents, because the taxpayers that pay it, you may get the money from the state or the federal, it is the taxpayers who pay the taxes and we need to have some accountability and some transparency. i am not saying that this contractor is going to do his job i hope he does his job quarterly or twice a year or for the duration of this contract we get some reports. so that we can read and see what is happening. thank you very much. >> is there any other member in of the public that would like to make comments? seeing none public comment is close. (gavel) this is an action item. >> mr. chair? >> i know there is question about work between the mta and the transportation authority. can you talk about those issues and how they were resolved? >> both agencies have responsibility especially mta which has legislation for originating parking in public policy of the transportation authority addresses transportation strategies particularly because half of the -- in the city is reg
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